Bank of Maharashtra Personal Loan 2025

Bank of Maharashtra Personal loan Eligibility

Bank of Maharashtra doesn't have stringent eligibility criteria when it comes to the Mahabank Personal Loan. The eligibility criteria for Bank of Maharashtra personal loan is pretty relaxed. Listed below are the eligibility criteria to avail of a Bank of Maharashtra Personal Loan.

1. Minimum age- 21 years
2. Maximum age- 65 years
3. Salaried, self employed and existing house loan borrowers are eligible for a personal loan.
4. Minimum income- Rs.3 lakh p.a.
5. Maximum loan amount granted- Rs.20 lakh
6. Maximum repayment term- 84 months

Types of Personal Loan by Bank of Maharashtra

Maha Bank Personal Loan for Salaried Customers

Note: The above-listed rate of interest are as on 8 August 2025 and are subject to change at the discretion of the bank.    

Maha Bank Personal Loan Scheme for Self-Employed Customers

Note: The above-listed rate of interest are as on 8 August 2025 and are subject to change at the discretion of the bank.    

Maha Bank Personal Loan Scheme: For Business Class having a Home Loan with the Bank

Note: The above-listed rate of interest are as on 8 August 2025 and are subject to change at the discretion of the bank.    

Bank of Maharashtra Features and Benefits

The features of Bank of Maharashtra Personal Loan are given below:

1. Minimum annual income of Rs.3 lakh

1. Loan amount you can avail is 20 times your gross monthly income

1. 1% processing fee.

1. Low EMI

1. No hidden charges

1. Minimal Documentation

1. Track your Loan facility

1. Simple disbursement process

1. No penalty for prepaying amount

Documents Required for Bank of Maharashtra Personal Loan

Documents required while applying for a personal loan from Bank of Maharashtra are:

1. Identity Proof such as PAN Card, Aadhaar, Driving License, etc.

1. Proof of address such as Aadhaar, Driving License, Passport.

1. For salaried individuals, they will need to provide salary slips for the last 3 months, 6-months bank statement, and IT returns of the past 2 years.

1. Self-employed persons need to provide balance sheet, profit-loss account, and 3 years IT returns.

How to Calculate EMI for Bank of Maharashtra Personal Loan?

EMI for Bank of Maharashtra personal loan can be calculated with the help of a tool known as EMI calculator. EMI calculator helps you figure out the EMI payable of your loan with no hassles. The tool is very easy and convenient to use.

The customer needs to enter a few details such as the loan amount, tenure of the loan, rate of interest charged and the processing fee in order to get the EMI of the loan. Once the details of the personal loan is entered in the EMI calculator, the calculator will output the result immediately.

The EMI calculator not only gives out details about the EMI of the loan but it also outputs the break up of the total loan amount payable to the lender by the borrower. This includes the principal amount, rate of interest and the processing fee.

How to Apply for a Personal Loan from Bank of Maharashtra

Online

1. Click on the link https://bankofmaharashtra.in/personal-banking/loans/personal-loan.

1. Go to ‘How to Apply’.

1. Scan the QR code given and follow the instructions given to apply for a personal loan.

1. Once the application process is completed, you will get a confirmation letter. If all the details provided by you are correct, the loan amount will be disbursed to your bank account.

Offline

You can visit the nearest Bank of Maharashtra branch along with all the necessary documents to apply for a personal loan. Fill in the application form and submit it along with all the necessary documents. The bank will verify them and if they are found to be in order, your application will be approved, and the amount will be disbursed to your bank account.

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